Orrick, Herrington & Sutcliffe LLP (JD Supra France)

Dans un arrêt du 25 novembre 2020, la chambre criminelle de la Cour de cassation a annoncé un revirement de sa jurisprudence en matière de transfert de la responsabilité pénale résultant d’une fusion absorption.

In a decision dated 25 November 2020, the Criminal Chamber of the French “Cour de Cassation” decided to reverse its case law on the transfer of criminal liability resulting from a merger by way of absorption.

Par une décision du 19 juin 2017 (n° 392543, GE Money Bank), abondamment commentée, le Conseil d’État avait, de façon pragmatique, jugé que le taux de marché par référence auquel il convient d’apprécier si une société a emprunté à un juste prix à une autre entreprise du groupe auquel elle appartient doit être évalué par référence à la situation intrinsèque de cette société.

The French government presented the draft Finance Bill for 2019 on September 24, 2018. This draft is currently being discussed by the Parliament and is subject to potential changes.

La fin du monopole d'État du secteur ferroviaire en France, demandée par la Commission Européenne, constitue un changement majeur dans la législation française et aura de nombreuses répercussions économiques, concurrentielles, sociales et juridiques. Afin de mieux comprendre, d'évaluer et de discuter de ces conséquences, ainsi que des défis, risques et opportunités engendrés par cette ouverture à

Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from lending money to French borrowers. Although French funds have been used as vehicles by alternative capital providers in the past, such transactions could not be structured easily and without the involvement of borrower-facing credit institutions as intermediaries, or complex bond

The Paris administrative court ruled on July 12th, 2017, that Google Ireland Limited did not have to pay $1.3 billion in back taxes in France for the period 2005-2010. The Irish company Google Ireland Limited sells digital services like its online advertising platform "AdWords" to French customers. The French company Google France provides, under a contract with Google Ireland Limited,...

On December 9th, 2016, France officially enacted the Law on transparency, anti-corruption and economic modernization (so-called "Sapin II bill") which introduces the following key changes...

Enacted on 6 August 2015, France's law for growth, activity and equal economic opportunities, known as the "Macron law", designed to boost the French economy, aims to "establish equal economic opportunities and increase economic activity by removing restrictions, promoting investment and creating jobs".

Enacted on 6 August 2015, France's law for growth, activity and equal economic opportunities, known as the "Macron law", designed to boost the French economy, aims to "establish equal economic opportunities and increase economic activity by removing restrictions, promoting investment and creating jobs".

La loi dite « Macron » a soulevé d’innombrables critiques. Celles-ci ne sont pas toutes imméritées. Il importe cependant de faire la part des choses et de distinguer les plans sous lesquels elle peut être appréciée. Les juristes s’accorderont aisément sur le fait que cette nouvelle coproduction gouvernementale et parlementaire ne laissera pas une trace immémoriale dans l’histoire de l’art...

IMMOBILIER A PARIS: L’arsenal renforcé de la commune pour préempter - Dans un contexte où le mécanisme d’encadrement des loyers des logements instauré par la loi ALUR devrait, selon le communiqué de presse du cabinet de la Ministre Sylvia Pinel du 12 juin, entrer en vigueur le 1er août prochain, il y a lieu de faire le constat que la commune dispose aujourd’hui d’un arsenal de plus en plus...

Located in more than 60 fields mainly in the Paris region and in the south west (Aquitaine Basin), French hydrocarbon deposits produced 790 tonnes of oil and 0.3 tonnes of oil equivalent (Mtoe) of natural gas in 2013, representing roughly 2 per cent of France’s annual consumption. Major recent developments in the French E&P sector involve the continuing debate around shale gas which...

How was the M&A market in Q1 2012 compared to Q1 2011? As seems to be the case for most European countries, Q1 2012 saw a decline in M&A compared to Q1 2011. Although M&A activity remained stable between 2009 and 2011 in terms of transactions numbers, there was a sharp decrease in 2012: between January and March, transactions involving at least one French company were valued at only EUR14...

The Finance Act (28 December 2011) and the Amended Finance Act (14 March 2012) for 2012 modified significantly the treatment of registration duties applicable to the transfer of shares in listed and non listed companies. Since 1 August 2012, new rates have come into force, new exemptions are applicable and the geographic scope of registration duties has expanded significantly. A tax regulation (7

Le droit communautaire concernant la documentation relative à l’émission d’obligations a fait l’objet d’une refonte récente qui viendra impacter le contenu et la structure des prospectus depuis le 1er juillet. Cette échéance a poussé certains émetteurs à avancer les travaux de mise jour de leur programme afin de bénéficier de la clause de grandfathering de la directive et repousser à l’année

Until recently, private-equity investment funds and international corporate groups investing in France enjoyed a very favorable tax environment, including inter alia the benefit of both EU Directives and the double tax treaties signed by France, as well as the ability generally to “push down” debt incurred in connection with their acquisitions through the combination of (i) the tax consolidation...